India Inc hails Shaktikanta Das as 'great choice' for new RBI Governor

India Inc Tuesday welcomed the appointment of seasoned bureaucrat Shaktikanta Das as the new RBI Governor and said his experience in handling economic affairs will play a critical role in dealing with various issues at the central bank.

Das, 61, a 1980 batch Tamil Nadu cadre IAS officer, who retired as the economic affairs secretary in May 2017 was Tuesday appointed by the government as the new head of the RBI after Urjit Patel's sudden resignation Monday.

Industry body FICCI welcomed the appointment of former Economic Affairs Secretary and current member of the Finance Commission, Das, as RBI Governor.

The government has done well by appointing an economic administrator and manager of his eminence, stature and wide-ranging capabilities to guide RBI and Indian economy at this crucial juncture, FICCI said in a statement.

 

CII President Rakesh Bharti Mittal said the quick appointment of the new RBI Governor has come as a huge sentiment booster to industry.

"The Government, in selecting an experienced economic expert, has avoided disruption and imparted huge confidence to investors and industry. We in industry, are confident that the liquidity squeeze in the banking and non-banking financial sector which is spilling over into the various segments of industry would be taken up with all urgency by Das," Mittal said.

FICCI President Rashesh Shah said: "It's a great choice. Mr Das has a 360-degree understanding of the financial issues facing the Indian economy and he also understands global issues due to his involvement with G20.

SBI Chairman Rajnish Kumar said, "I heartily welcome the appointment of Mr ShaktiKanta Das as the new Governor of RBI. This will ensure continuity in monetary policy making and regulatory measures even as the global economy is passing through uncertain times. The financial markets will also significantly benefit from the appointment of newly appointed Governor given his rich prior experience in fiscal policies and trade. This will also ensure a convergence of domestic and external policies."

Petroleum and Oil Minister Dharmendra Pradhan also congratulated Das, who is a fellow Odia, on his appointment as Governor of RBI.

"His experience in economic affairs will push our economy towards higher & sustainable growth. I convey my best wishes for a successful tenure in his new role. Indeed, it is a proud moment for all Odias," Pradhan said in a tweet.

Fellow colleague in the bureaucracy and CEO of the NITI Aayog Amitabh Kant too congratulated Das saying has "known @DasShaktikanta from my college days".

"Extremely seasoned & matured official with immense experience of Finance. He is a brilliant team leader,a great consensus builder & highly communicative. Will focus on India's economic growth while ensuring RBI's autonomy. Gr8 choice!," he tweeted.